Papua New Guinean kina
| |||||
| ISO 4217 | |||||
|---|---|---|---|---|---|
| Code | PGK (numeric: 598) | ||||
| Subunit | 0.01 | ||||
| Unit | |||||
| Plural | kina | ||||
| Symbol | K | ||||
| Denominations | |||||
| Subunit | |||||
| 1/100 | toea | ||||
| Plural | |||||
| toea | toea | ||||
| Banknotes | 2, 5, 10, 20, 50, 100 kina | ||||
| Coins | 5, 10, 20, 50 toea and 1 kina | ||||
| Demographics | |||||
| User(s) | Papua New Guinea | ||||
| Issuance | |||||
| Central bank | Bank of Papua New Guinea | ||||
| Website | www.bankpng.gov.pg | ||||
| Valuation | |||||
| Inflation | 2.5% | ||||
| Source | The World Factbook, 2006 est. | ||||
The kina (ISO 4217 code: PGK) is the currency of Papua New Guinea. It is divided in 100 toea. The kina was introduced on 19 April 1975, replacing the Australian dollar at par. The name comes from the kina shell, which was traditionally used as currency in the Papuan region of the country.
For earlier currencies used in Papua New Guinea, see New Guinea pound and New Guinea mark.
Coins
In 1975, coins were introduced for 1, 2, 5, 10 and 20 toea and 1 kina. The 1 and 2 toea were minted in bronze, with the others in cupro-nickel. The 1 kina is round and holed in the centre, this denomination was reduced in size starting from 2006 along with the withdrawal of the 1 and 2 toea coins and as from the 19 April 2007 is no longer legal tender .[1].
In 1980, 50 toea coins were introduced but only issued in commemorative form without a standard design.[2]
Banknotes
On 19 April 1975, notes were introduced for 2, 5 and 10 kina that replaced the Australian dollar at par, so the colour scheme was the same. They circulated along with the dollar until the 1 January 1976 when the dollar ceased to be legal tender. The 20 kina was introduced in 1977, 50 kina in 1990, followed by 100 kina in 2005. All colouration of the individual denominations are the same as current and former Australian decimal currency. Starting from 1991, nearly all current Papua New Guinean banknotes except the 5 kina have been produced in polymer rather than on paper.
| Current PGK exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
See also
References
- ^ Bank of Papua New Guinea. "Notes and coins of Papua New Guinea - Currency". Retrieved 2007-05-29.
- ^ Bank of Papua New Guinea. "50 toea coin". Retrieved 2007-05-29.
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
External links
Template:Standard numismatics external links
| Preceded by: Australian dollar Reason: independence Ratio: at par |
Currency of Papua New Guinea 19 April 1975 – Concurrent with: Australian dollar until 1 January 1976 |
Succeeded by: Current |